Outcome of the 14th CoC Meeting held on 25-08-2025
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Kobo Biotech Limited, currently under Corporate Insolvency Resolution Process (CIRP), held its 14th CoC meeting on 25 August 2025. The committee approved the forfeiture of Rs. 1.05 crore deposited by the previous Successful Resolution Applicant (SRA) due to non-submission of a Performance Bank Guarantee. A 90-day extension of the CIRP timeline (from 31 August 2025 to 28 November 2025) was approved, and an application will be filed with NCLT Hyderabad to formalise this. The CoC also approved re-issuing a fresh Expression of Interest (Form-G) to invite new resolution applicants, with eligibility criteria such as a minimum net worth of Rs. 20 crores for body corporates, AUM of Rs. 300 crores for financial investors, and a refundable earnest money deposit of Rs. 5 lakhs. All agenda items were approved with 100% voting share.
The forfeiture of the previous bidder's deposit and the need to restart the resolution applicant search indicate continued delays and uncertainty in the insolvency process. Shareholders should expect prolonged resolution timelines and remain cautious as no resolution plan has been approved yet.